27. Liberty Company estimates that its annual bad debts approximate 4% of credit sales. Liberty had the following balances at yearend prior to recording adjusting entries: Credit Sales $160,000 Accounts Receivable 30,000 Allowance for Doubtful Accounts 100 (debit) The net realizable value of the receivables on Liberty's yearend balance sheet would be A) $29,900. B) $23,700. C) $23,600. D) $23,500. El None of the above